RMC Switchgears earnings calls.

RMC Switchgears delivered 26.4% YoY revenue growthCurrent reported value: 26.4% YoY revenue growth. No comparable prior figure is available in the source record. to Rs 401.59 crore in FY26, driven by infrastructure and EPC execution. However, profitability disappointed due to product development investments (pulse box), project execution delays from extended monsoon in Maharashtra, and input cost pressures from rising aluminium, silver, steel, and copper prices. Solar EPC faced supply chain disruptions and safeguard duty-related cost movements. The company pivoted from Q3 loss of Rs 7.07 crore to Q4 PAT of Rs 9.3Current reported value: 9.3. No comparable prior figure is available in the source record. crore through improved execution and tighter cost control. Working capital deteriorated with trade receivables rising from Rs 148 crore to Rs 205 croreCurrent Rs 205 crore. Reported change: +Rs 57 crore YoY., though management attributes this to Q4-heavy billing. The strategic pivot toward technology-led differentiation—centered on the Pulsebox IoT solution for distribution transformer monitoring—represents a meaningful opportunity but faces long utility adoption cycles. Management targets better project selection, improved procurement discipline, and working capital efficiency in FY27, aiming for cash flow positivity without providing specific revenue guidance.